The United States and Japan will step up their defence cooperation to deal with the threat from nuclear-armed North Korea as tensions in East Asia remain high, officials from the two allies said on Thursday.

Bill Shorten puts jobs at the forefront at Labor campaign launch

With just under a fortnight to go until polling day, Opposition Leader Bill Shorten has declared Prime Minister Malcolm Turnbull “ain’t seen nothing yet” in his push for employment, infrastructure and health.

Confirming his new pledge for small business tax breaks for new jobs, Mr Shorten took a swipe at the Coalition’s “jobs and growth” slogan.

“If you a small business, that has been in operation for two years or more, you will get a new tax break of up to $20,000 when you hire a parent going back to work, a carer, an Australian aged under 25 or over 55. Supporting these Australians into work will create 30,000 new jobs each year”.

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“The Australians finding it hardest to find a job are young people under 25 looking for their first start, and workers over 55 displaced by change, stranded by change, looking for another chance, and, of course, the parents and careers returning to work after more than six months away.

“Labor is determined to do more to help people find work in a changing economy… not talking about jobs, doing something to create them.

“Hope is not found in a three-word slogan.”

Mr Shorten said the only three-word slogan the party wants to hear is “made in Australia.”

“We choose local content. We choose the apprenticeship system. We choose renewable energy and Australian steel. Because we believe advanced manufacturing has a future in this country,” he said.

His opening address shunned claims the party has already lost the election, declaring Mr Turnbull “ain’t seen nothing yet”.

“Turnbull says he’s going this in the bag. He claims he’s already won it. I say to him – never underestimate Labor,” Mr Shorten said.

"Only Labor will lead an Australia with prosperity for everyone who works and prosperity that works for everyone.

“We can win. We must win, because only a Labor government will build a stronger economy and a fairer society.”

The launch’s opening focused on policy agenda and monetary management, urging loyal followers Labor will “not be a big-spending government,” and will instead employ austerity measures to “bring down the deficit, each and every year, saving more than we spend” to dispute the Coalitions claims of overspending

Tackling the issues of foreign aid, Mr Shorten promised “a Labor party investing in people, in productivity, in infrastructure and in technology”, dismissing the Coalition’s big-spending to foreign businesses as “a plan for the Australian economy” but rather “foreign aid for foreign companies”.

On the party’s key policy of education, Mr Shorten zoned in on a story of a student with a “million dollar smile”, vowing to commit to the abandoned Gonski needs-based funding.

“When I think about how they keep having to do more with less, it is an outrage, when the Liberals say that money doesn't make a difference in education,” he said.

“Let is win this election, so we put to bed forever the argument that funding schools is not an investment in our future.”

After Friday night’s online debate, where many took to criticising the NBN, Mr Shorten spruiked the idea of the “first-rate fibre National Broadband Network”, comparing the current government’s oversight of the NBN to Mr Turnbull’s time as leader.

“Over promise, under deliver and take forever to get to the point,” he said.

Former prime ministers Paul Keating and Julia Gillard arrive to listen to Leader of the Opposition Bill Shorten at the Labor campaign launch. (AAP)

Senior Labor frontbenchers echoed the sentiments of their leader at the beginning of the launch.

Deputy Labor leader Tanya Plibersek took aim at Mr Turnbull.

"Has there ever been a leader who promised their country so much and yet has delivered so little?" she asked.

"You can say a lot of things about Tony Abbott and I know many of us have, but at least he believed in something."

Shadow treasurer Chris Bowen promised Labor would provide "a remedy, not a replica" of the coalition.

"A long time ago we decided to make this campaign a battle of ideas not of insults," he said.

Under Mr Shorten's leadership, Labor has gone from also-rans after Mr Turnbull became prime minister last September, to within a fighting chance for the July 2 election as opinion polls show the opposition having a slight advantage.

However, it could all be in vain, with polling also showing Labor failing to pick up enough support in key marginal seats to take the 21 seats needed to govern in its own right.

The campaign was launched in western Sydney in the marginal liberal seat of Lindsay, currently held by MP Fiona Scott.